508 Palestine StAthens, TX 75751

Property Details for 508 Palestine St

Year built

1980

Lot size

0.51 AC

Property size (Sq ft)

2,436 SF

Property type

Car washes

APN

2050-0066-011C-01

APU

20500066011C01

Description

This exceptional investment opportunity presents a well-established car wash situated on Highway 19 South in Athens, Texas. Boasting approximately 208 feet of highway frontage, this property benefits from one of the highest traffic counts in the city, ensuring consistent customer flow. The car wash itself comprises six wash bays and six vacuum bays, fully equipped with amenities such as vacuum cleaners, shampoo dispensers, air fresheners, vending machines, and two cash-change machines. Adding to the property's income stream is a monthly lease agreement with a Twice The Ice kiosk located on the property's corner, and an annual lease for a billboard. The property also features an advanced 8-camera surveillance system for enhanced security. The building encompasses 100 square feet on a sizable 0.8-acre lot. The seller is open to a triple-net lease arrangement, with lease terms negotiable. This turnkey operation offers a compelling investment prospect for those seeking a profitable and established business in a high-traffic location. The property's strong revenue streams, coupled with its prime location and comprehensive amenities, make it an attractive option for both owner-operators and investors. Serious inquiries are encouraged to explore this lucrative opportunity further. The asking price is $199,000.

• CAP approach

  CAP return

  Valuation

  6%

  $788,614

  6.5%

  $727,951

  7%

  $675,955

• Comparable approach

  Method

  Valuation

  Relative Method

  $897,859

  Geo Method

  $1,837,871

• Alternative Use

  Use

  Valuation

  Residential

  $614,054

  Hospitality

  $562,470

  Educational

  $467,969

  Medical

  $484,063

  Retail

  $727,951

Location Insight

City

Athens

County

Henderson

State

Texas

Latitude

32.1974

Longitude

-95.8541

CBSA code

11980

CBSA name

ATHENS, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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